Christmas comes early as global markets soar higher in October - Corion Capital's David Bacher in review

Corion Capital publishes a monthly informative summary of asset class and fund performance data, which is a must read for any level of investor. As is customary for the beginning of the new month, Corion’s chief investment officer David Bacher delves deeper into the drivers of outperformance and risks facing the financial markets as the year slowly draws to a close. Bacher notes that October was somewhat of a reversal of September, with global equities and specific sectors such as resources bouncing back strongly. The JSE All Share Index has climbed 36% on a rolling 12-month basis. However, the small-cap and fledgling indices – which constitute the smallest listed businesses by market capitalisation – have increased 60% and 100% over the same comparative period. This is where money managers such as Piet Viljoen (Counterpoint Value Fund) have managed to outperform the benchmark, by being contrarian in nature. Bacher also touches on the major developments that took place in the asset management industry over the past month, with Sanlam’s buyout of Absa’s investment management business and Stanlib’s partnership with US banking giant JP Morgan being the talking points. - Justin Rowe-Roberts Learn more about your ad choices. Visit megaphone.fm/adchoices